New York City is the priciest city to build in the world - and it's not getting any cheaper

Lucas Jackson/Reuters
The average cost to build a new structure in NYC is $362 per square foot.
An additional 3.5% to that cost is expected in 2018.
San Francisco is second to NYC in cost to build.
Though construction spending cooled slightly last year, New York City remains the most expensive place to build in the world with an average cost of $362 per square foot.
That's a 3.5 percent year-over-year increase, and another 3.5 percent hike is expected in 2018, according to Turner & Townsend's 2018 International Construction Market Survey. See the rest of the story at Business Insider NOW WATCH: A Nobel Prize-winning economist explains what Milton Friedman got wrong See Also: LeBron James and Arnold Schwarzenegger own part of Bill Ackman's office building The 13 most useful features in iOS 11 How to dress your best in any work environment, from a casual office to the boardroom SEE ALSO: The Senate just released roughly 1,800 pages of interviews about Donald Trump Jr.'s 2016 Trump Tower meeting with a Russian...